Biden, McCarthy getting ‘closer’ to debt ceiling deal before clock runs out
USA TodayJUL 2023
Biden, McCarthy Draw Closer to Debt Ceiling Deal
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Image copyright: The White House [via Wikimedia Commons]
The Spin
Pro-establishment narrative
While this laborious process is far from over, real progress is being made in negotiations to raise the debt ceiling. The US defaulting on its debts isn't an option, and both political parties are working hard to ensure that doesn't happen.
Establishment-critical narrative
While lawmakers may be hopeful about negotiations, this process has taken far too long. Nobody should use the threat of defaulting as leverage; both Democrats and Republicans have failed the electorate by putting partisan politics ahead of the national interest.
Metaculus Prediction
There's a 3% chance that the US will default on its sovereign debt before July 1, 2023, according to the Metaculus prediction community.
